NEW YORK (Reuters) – U.S. prosecutors in Manhattan on Wednesday unveiled an indictment accusing a product supervisor at OpenSea, the biggest on-line market for non-fungible tokens, of insider buying and selling.

Nathaniel Chastain was accused of secretly shopping for 45 NFTs based mostly on confidential info that they’d quickly be featured on OpenSea’s house web page, and later promoting them at a revenue, sometimes two to 5 instances what he paid.

In accordance with an indictment filed in Manhattan federal courtroom, the scheme ran from June to September 2021, and Chastain transacted by nameless digital foreign money wallets and accounts at OpenSea.

Chastain was charged with wire fraud and cash laundering. A lawyer for him couldn’t instantly be recognized. OpenSea and the U.S. Legal professional’s workplace in Manhattan didn’t instantly reply to requests for remark.